Prepaid Debit Card

These issues are also of great consequence as your personal information may not be safe unless you use these products properly and at this point, credit based cards are more dangerous due to the acceptance of their use. Nevertheless, both products need to be used consciously and any documentation you receive should be disposed properly to avoid strangers from getting hold of your personal data and use it for illegal or fraudulent purposes.

What should I do if I lose my Debit Card?

Anyone can apply regardless of his or her nationality, country of residence, credit history or status.

What is the advantage of a debit card?

Usually. There is a fee associated with the card, but, depending on the purpose of the card, the issuer may decide to absorb that cost as part of its service. For example, an employer that uses debit card to pay its employees may cover the cost of the cards rather than passing the cost along to its employees.

How is debit card better than cash?

There are lots of ways that debit card beats cash. To name just three: Debit card is more secure than cash. If cash is lost or stolen it is likely gone forever. If your debit card is lost or stolen, it can be replaced.A debit card is a global money and debit card. You can safely send a debit card in the mail.

Why Debit Cards and Credit Cards Comparisons Pointless?

One wonders what drives financial advisors to compare two completely different products that have a single thing in common: the material or substance of which they are made. Other than that, I did not see a good reason for comparing a debit card to a credit card.

How is debit card better than using a bank card?

Using a debit card to pay for your purchase does not alter the store's refund policy. If the store normally allows refunds on returned merchandise then they will provide a refund on something purchased with your card. If you return merchandise, it is up to the merchant whether to issue a cash refund or to transfer the money back onto your card.

Can I still get at my money if I forget my Personal Identification Number (PIN)?

Not right away. To ensure that your money is safe, you need both your card and your PIN to get at your money. However, if you forget your PIN.

What about Online Purchases and Transactions?

It is definitely a lot easier to buy products on the internet by means of a credit card. Payment intermediation services that allow you to use a debit card require verification processes that are otherwise not necessarily. Therefore, when it comes to online shopping we need to point out that there are significantly differences between these two financial products.